Damac awards $817m in contracts during H1
Dubai developer awards 25 construction and consultancy contracts for projects including Akoya Oxygen
Damac Properties says it awarded 25 construction and consultancy contracts worth AED 3 billion ($817m) in the first half of 2016.
Work awarded by the Dubai Financial Market-listed developer include the main packages for more than 2,678 villas within its Akoya Oxygen community.
It also awarded a contract for the main package for the Golf apartment buildings at Carson – The Drive at Akoya by Damac.
“In Akoya Oxygen, the total number of villas now awarded exceeds 2,670. The Golf course design is completed and we are making progress in the selection of the Golf course main contractor. The designs of several clusters are completed, several main contractors were appointed and work started in many areas on site. In Akoya by Damac, the Golf course is completed and the handover of approximately 766 villas is imminent,” said Ziad El Chaar, Managing Director of Damac Properties.
“The drive to deliver luxury living lies at the core of Damac Properties’ mission. This is a very exciting time to be part of the Dubai real estate market resurgence as we look forward to working with top-notch contractors and consultants to ensure the delivery of our projects.”
As of 31st March 2016, Damac Properties has delivered over 15,800 homes, including approximately 2,000 hotel units.
